Mobi With Blockchain Aids Honda & Ford

Mobi With Blockchain Aids Honda & Ford

The Mobility Open Blockchain Initiative (Mobi) which comprises more than hundreds of companies and the world’s greatest automobile makers altogether is set to solve a variety of issues in the automotive industry. This altogether would be based purely on blockchain technology. It is all set to measure the carbon dioxide emissions produced due to the production of electric vehicles. Mainly focusing on the carbon dioxide produced due to the production of lithium-ion batteries.

Carbon Emissions From EVs

The era of the rise of electric vehicles to take over has soon begun. The excessive price of fossil fuels and the carbon footprints produced from them makes Electric Vehicles(EVs) popular in recent times. 

Accordingly, all carmakers are now competitive with each other on their electric vehicles launched by them. EVs are considered green and environment-friendly.

Despite the facts on electric vehicles and their least carbon footprints, the debate arises on the production of batteries for these electric cars. Lithium-ion batteries are used in most electric vehicles, including hybrids. However, the production of these batteries obviously leaves a notable carbon footprint. Accordingly, studies reveal electric vehicle battery production gives out about 56 to 494 kilograms of carbon dioxide per kilowatt-hour(kg CO2/kWh). Hence, this is quite a notable amount, upon which manufacturers have to be concerned. 

In contrast, compared to traditional internal combustion vehicles, EVs are still though more environment friendly. 

Therefore, all this has pushed the automobile manufacturers to take concern and measure the amount of carbon dioxide emissions produced upon production of electric vehicle batteries. The non-profit alliance of the world’s most renowned automobile manufactures like Honda, Ford along with many other technology companies, the Mobility Open Blockchain Initiative (Mobi), looks for a solution. 

 The Mobi is set to use blockchain technology based on cryptocurrencies to measure the carbon dioxide emissions. 

The Mobi Initiatives

The Mobi will be using blockchain technology which is based on various cryptocurrencies and also Bitcoin (BTC). Thus, a concrete report on the carbon emissions is to be made. In addition, computers will be required to process, store and transfer this data. Also, these computers will monitor each other too. 

By using blockchain technology, it will be impossible to develop fake readings or data which are to be recorded. In addition, this nullifies the possibilities of any hacks. 

Apart from global automobile manufacturers like Honda and Ford, the Japanese largest imports and exports trading corporation, Itochu is also a part of Mobi.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.